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Old 09-02-2009, 07:52 PM
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"As a taxpayer you should be concerned because this could be another potential drag and possibly a significant drag on the U.S. Treasury and bloat the already record federal deficit," he says, echoing a Wall Street Journal editorial on Tuesday, suggesting the FDIC may be the next entity in need of a bailout...

The economic impact is significant: Without local banks lending, hopes of a V-shaped recovery are slim to none. Community banks are the ones "lending on Main Street USA" and Bianco says, if they're stressed the financial system won't return to full health "for the foreseeable future."

"It Could Get Ugly Very Fast" Banking Crisis Grows FDIC's Funds Shrink: Tech Ticker, Yahoo! Finance
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